EEX Natural Gas and CO2 Trading Results in August - More than 100 participants admitted for EEX gas trading – Incentive model on Derivatives Market effective2011/09/06
At 6,290,107 MWh, the highest monthly volume since the beginning of the year was traded on the Natural Gas Market of the European Energy Exchange (EEX) in August 2011 (August 2010: 2,648,600 MWh). The higher volume is due, in particular, to increased trading activities on the Natural Gas Derivatives Market for which EEX introduced a new incentive model at the beginning of August. Under this model, a bonus is paid to the respective three trading participants with the highest level of activity that trade a volume of more than 1 TWh or of more than 2 TWh respectively on a monthly basis. This model supplements the new incentive system for market makers and contributes to an increase in the attractiveness of the EEX gas market and to a further improvement in liquidity.
Trading on the Spot Market with delivery into the GASPOOL, NCG and TTF market areas accounted for 1,261,761 MWh of the total volume in natural gas (August 2010 GASPOOL and NCG volume: 1,472,150 MWh). In the course of the month, the daily reference price on the Spot Market for Natural Gas ranged between EUR 19.32 per MWh and EUR 24.97 per MWh.
On the Derivatives Market for Natural Gas (GASPOOL and NCG market areas) a volume of 5,028,346 MWh was traded in August (August 2010: 1,176,450 MWh). As of 31 August 2011, the open interest amounted to 24,690,520 MWh. On 31 August 2011, Natural Gas prices for delivery in 2012 were fixed at EUR 28.00 per MWh (GASPOOL) and of EUR 27.95 per MWh (NCG), respectively. The last monthly average value for the natural gas index EGIX Germany and, hence, the reference price for the delivery month of September 2011 was determined at EUR 22.43 MWh on 30 August 2011.
Trading Results for CO2 Emission Allowances
In August, the total volume on the EEX Markets for CO2 Emission Allowances (EUA) amounted to 7,044,000 EUA compared with 14,343,000 EUA in August 2010.
On the Spot Market, a volume of 2,170,000 EUA was traded in August. The volume included 670,000 EUA traded on the secondary spot market (August 2010: 192,000 EUA), while a volume of 1,500,000 EUA was traded in the Primary Market Auction. During the month, the Carbix (Carbon Index) ranged between EUR 10.43 per EUA and EUR 13.20 per EUA.
The volume on Derivatives Market amounted to 4,874,000 EUA in August. The volume included 2,024,000 EUA traded on the secondary derivatives market (August 2010: 10,371,000 EUA) and 2,850,000 EUA were traded in the Primary Market Auction. On 31 August 2011, the price for the Mid-Dec Future contract 2011 settled at EUR 12.97 per EUA and the contract for the year 2012 at EUR 13.55 per EUA.
On the CO2 Derivatives Market for Certified Emission Reductions the trading volume amounted to 20,000 CER in August (August 2010: 15,000 CER). On 31 August 2011, the price for the Mid-Dec Future 2011 was traded at EUR 9.08 per CER and the price for the 2012 future at EUR 9.28 per CER.
New trading participants in August
In August, EEX admitted BP Gas Marketing Ltd., London, and Société Générale S.A., Paris, to trading on the Spot and Derivatives Market for Natural Gas. KRI Marketing and Trading S.A., Gdansk, and WSW Energie & Wasser AG, Wuppertal, are new participants on the Spot Market for Gas and BECOMAC GmbH, Leipzig, und Optimization Engineers GmbH, Hattingen, are new participants on the Derivatives Market for Gas. As a result, in total 103 companies are now registered for gas trading on the exchange. Furthermore, Global Commodities, Paris, Dynamic Energy ApS, Åbyhøj (Denmark) and METRO Group Energy Production Sp.z.o.o., Warsaw, were admitted for trading on the EEX Derivatives Market. In the framework of the cooperation between EEX and Eurex HPC S.A., Paris, was admitted to trading on the Power Derivatives Market.
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